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DAX set to open lower this morning

The DAX failed to reach a higher close yesterday, as it slipped back from a session high at 16,789 and later ended the session at 16,733, with a loss of just 11 points on the day. The later losses in the US markets sent the DAX futures sharply lower and at one point that was pricing a reopening for this morning below 16,600. However, that outlook has brightened somewhat now, but a lower opening is still on the cards a little later. The driver for that is all US based, but perhaps we should not forget how well the DAX has performed in recent weeks and already reached a new record high at 17,003. The outlook is therefore rather uncertain today in terms of any directional move ahead of the Christmas break. Personally, I would not like to call it right now. The DAX is currently priced to resume live trading at around 16,660 

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